From left: an interior at the Continental and Clifford Finn, president of new development marketing at Citi Habitats

The first year of leasing at the 336-unit rental building the Continental, at 885 Sixth Avenue, saw all the luxury units rented, according to a statement from marketing agent Citi Habitats today.

Though leased out, the amenity-flush, 53-story tower, at 32nd Street, could soon have available units if tenants opt to move, a spokesperson for the building said. The tower was developed by Tower 111 LLC. [more]

The Aldyn

From the March issue: The 40-story Aldyn is the latest in a wall of luxury towers, and the fourth by Extell Development, to sprout up on Riverside Boulevard in the West 60s.

This largely glass building, however, is a condo-rental hybrid — an option that, as The Real Deal has reported, has become increasing popular for developers since the economy soured because it helps them hedge against the uncertain sales market. The Related Companies has a hybrid project at 440 West 42nd Street, and J.D. Carlisle Development Corp. has the Beatrice/Eventi combination on 29th Street.

But the hybrid model is a first for Gary Barnett’s Extell, which has also built the Avery and the Rushmore, both condos, and the Ashley, a rental, on this patch of Riverside South, a site extending from 59th to 72nd streets. [more]

Clifford Finn, 47, is the director of new development marketing at Citi Habitats. A rental specialist, Finn has been involved with leasing at several recent rental developments, including the Continental at 885 Sixth Avenue at the corner of 32nd Street and the Beatrice, on the top floors of the Eventi hotel a few blocks south. Most recently, he’s begun marketing 8 Spruce Street, a 76-story rental tower by famed architect Frank Gehry, which drew 1,000 brokers when it opened to renters last month. Compiled by Amy Tennery [more]

The Continental and Citi Habitats’ Clifford Finn

[Update: 1/11/11, 11 a.m] New rental development the Continental will launch leasing this Friday, with move-ins expected to begin in February, according to brokerage Citi Habitats Marketing Group. The 53-story, 338-unit tower, located at 885 Sixth Avenue on the corner of 32nd Street, includes studios and one- and two-bedroom apartments, with rents ranging from $2,550 to upwards of $6,110. The Continental is the second of two new rental developments that Citi Habitats is marketing within three blocks in the Herald Square neighborhood. The other, the Beatrice, located inside the Eventi Hotel, also on Sixth Avenue, between 29th and 30th streets. TRD [more]

The Continental and Citi Habitats’ Clifford Finn

Leasing will begin in weeks at the Continental, the Costas Kondylis-designed rental tower at 885 Sixth Avenue on the corner of 32nd Street.

Clifford Finn — director of new development marketing at Citi Habitats, who, along with his company, began working on the project about a year ago — said that the 338-unit Continental will likely begin leasing units in mid- to late-January, with studios starting around $2,500 per month, one-bedrooms around $3,500 and two-bedrooms renting for around $6,000.

The 53-story building is a stone’s throw from the Beatrice, which is the rental portion of the Eventi hotel on Sixth Avenue between 29th and 30th streets. (Citi Habitats is also marketing those rentals.) [more]

Eventi

JD Carlisle has released more details about Beatrice, the rental apartments occupying the floors above the [more]

Eventi

JD Carlisle has released more details about Beatrice, the rental apartments occupying the floors above the [more]

The Eventi Hotel at 835 Sixth Avenue is now up and running, but few
details have

[more]

From left: 80 Dekalb Avenue, BKLYN Gold, Beekman Tower and Cliff Finn of Citi Habitats

Citi Habitats’ managing director of new development marketing, Clifford Finn, gave The Real Deal the scoop on several new development rentals the company will be marketing this spring.

In early April, Citi Habitats will begin leasing units at the Ashley, a 209-unit luxury rental building developed by Extell Development. Located on 63rd Street between West End and Riverside, the Ashley is the sister rental tower to new condo the Aldyn. Starting in mid-May, Citi Habitats will be handling rentals at the Addison, a 270-unit project on Schermerhorn Street in Downtown Brooklyn from Broadway Management Company, the developer of new Manhattan condominium Sutton57. Rentals of the Addison’s studios and one- and two-bedroom units will start in mid-May for summer occupancy, Finn said.

Downtown Brooklyn has exploded with new rentals recently, including another project Citi Habitats is marketing, Forest City Ratner’s 354-unit 80 DeKalb Avenue. Also in May, Citi Habitats will start leasing at Lalezarian Properties’ new rental project at 350 West 37th Street at Ninth Avenue. The 80/20 project is tentatively being called “Townsend,” though that could change. [more]

Nancy Packes, president of her own new development marketing firm, at 316 11th Avenue, where she is the leasing consultant. The building is slated to begin renting units this winter.

From the December issue:
Once the province of a few niche players, the new development rental
sector is becoming a hotly contested battleground as brokerages look to
replace once-lucrative condo deals.
In the booming economy of the mid-2000s, many new development
marketing firms focused most of their attention on sales, while a few
firms had the rental field to themselves. But now, as marketers migrate over from the stagnant condo market,
newly built rentals are emerging as an increasingly important source of
revenue. And the sector is only expected to grow more competitive in
2010. “During the condo boom, they only focused on condos — that’s where
the money was,” Citi Habitats President Gary Malin said of new
development marketing firms. “Their condo stuff has slowed down, so
they’re trying to get in [to the rental market]. They’re looking to
find other revenue streams,” he added. While the pipeline of condos coming to market is slowing, brokers anticipate a healthy number of new rental buildings in 2010, largely because they have proved easier for developers to finance in the current climate. Some 2,935 rental units have come online in Manhattan so far this year, compared to 1,482 in 2008, according to a market report by Nancy Packes, the president of Brown Harris Stevens Project Marketing and founder of her own new development marketing firm, Nancy Packes, Inc., which does both new development sales and rentals.  More

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